Bullboard - Stock Discussion Forum Bank of Nova Scotia T.BNS

Alternate Symbol(s): BNS

The Bank of Nova Scotia is a bank in the Americas. The Bank offers a range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. Its segments include Canadian Banking, International Banking, Global Wealth Management and Global Banking and Markets. The Canadian Banking segment... see more

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Bank of Nova Scotia > In The Red After ANOTHER BOC Rate Cut ?? W T F ??

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Post by FiddyFiddyShot on Jul 24, 2024 3:57pm

In The Red After ANOTHER BOC Rate Cut ?? W T F ??

I was under the impression lower rates were better for banks. If that is actually the case, after today's rate cut, why are the bank stocks DOWN instead of seeing a bounce ?

Rates go up, bank stocks go down, rates go down, bank stocks still go down ? Is that how it works now ?

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Comment by Goldluck on Jul 24, 2024 9:40pm

It has nothing to do with the rate cut but everything to do with Tesla and Google Alphabet profits not meeting expectations. When the big guys get spooked, the sheep sell off everything even if it's non related

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